More Measures Announced to Help Entrepreneurs Get More Loans

Around a hundred new measures were announced by China in their renewed efforts in helping grass roots entrepreneurs to get more loans, pay less taxes and get free psychological counseling if their start up fail. The new measures were approved by the State Council earlier and are aiming to help all emerging companies in solving practical difficulties and clear unnecessary policy barriers.

The major task of the policies it to make sure those local startups can get better access loans, supportive services and government subsidies. Stock market watchdogs are considering using a new policy that will allow any not yet profitable internet and high technology firms to be listed in order to raise capital. Startups will be able to receive equity crowd funding as the country is planning a pilot project that will ease the restriction on the subject. Other measures will include affordable land use, internet service prices and power.

The vice minister of science and technology Cao Jianlin is calling the attention on college students turned entrepreneurs and the likelihood of failures. He also said that universities to offer entrepreneurship courses that will teach basic financial and communication knowledge, furthermore he added that some counseling sessions are already in place to prepare these entrepreneurs for possible failures in business.

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